SHIB Price History
Shiba Inu was launched in August 2020 under the moniker 'Dogecoin Killer', quickly gaining attention by strategically donating half of its supply to Ethereum founder Vitalik Buterin. This unconventional approach initially attracted a large following, with SHIB's trading volume sometimes surpassing that of established players like Ethereum.
In 2021, Shiba Inu's rapid rise was accompanied by a subsequent decline of over 90%, falling below $0.000008 at the beginning of 2023. However, there has been a significant recovery in recent months, with SHIB rising over 220% recently, surpassing the 0.000030 mark. Although there has been improvement, this price remains far below the historic high of $0.0000667 set in November 2021.
What is the SHIB burn rate?
The SHIB burn rate is an important indicator of the community's enthusiasm and commitment to the ecosystem. It supports strategies aimed at reducing token supply to actively enhance its scarcity and potential value.
Since SHIB is used to pay transaction fees on Shibarium, a portion of the tokens involved in these transactions will be burned, reinforcing this deflationary strategy. While this method benefits long-term appreciation, the substantial price impact depends on the scale of these burns, requiring broader participation.
Correlation between Shiba Inu and Bitcoin
The correlation between Shiba Inu (SHIB) and Bitcoin (BTC) is minimal, although SHIB typically reflects Bitcoin's price movements during bullish trends, especially when institutional investment drives market sentiment.
According to data from Ark Invest, this weak correlation has persisted since the last bull market cycle; Bitcoin's price has increased about 5.72 times since the recent cycle low, reflecting patterns observed in earlier cycles. If Bitcoin follows past trajectories, it may experience significant price growth, impacting altcoin trends in 2025.
Will the altcoin season appear again?
So far, a significant number of altcoins have performed well, with data showing that 20 of the top 50 cryptocurrencies have outperformed Bitcoin since the beginning of this year. This indicates that the altcoin market is very active beyond Bitcoin's traditional influence.
The large trading volume observed in November and the historic levels of open interest indicate a strong market environment, with altcoin trading activity based on fundamentals rather than just Bitcoin dynamics.
Additionally, high volatility has led to the liquidation of a large number of positions involving SHIB, totaling approximately $880 million, highlighting the ongoing complexity in the market.
Layer 2 partners with Chainlink
The Shiba Inu project recently partnered with Chainlink to integrate its Cross-Chain Interoperability Protocol (CCIP) into the Shibarium network. This collaboration is expected to enhance the ecosystem's capabilities and support the adoption of decentralized finance (DeFi) applications.
As a major cross-chain infrastructure, this collaboration opens the door for secure token transfers and access to real-time market data. SHIB developer Kaal Dhairya hinted that more developments related to this integration are forthcoming, suggesting that additional features could significantly enhance user experience and functionality within the Shiba Inu ecosystem.
Will SHIB reach $0.1 in 2025?
Given the current market dynamics, predictions for SHIB reaching significant milestones (such as hitting $0.1 by 2025) remain conservative. Considering SHIB's all-time high of $0.0000667, the projected increase required to achieve this goal seems unattainable under current trends.
Nevertheless, SHIB trading volume indicates active participation from various traders. However, if key support levels such as 50 EMA are not maintained, there is a risk of further declines, prompting cautious sentiment among investors.
What will the fees for SHIB be in 2025?
By utilizing the Relative Strength Index (RSI), traders can gain insights into the best trading opportunities for Shiba Inu over different time frames. As the RSI fluctuates, the current target observed by traders is to reclaim the $0.00003 mark, which may lay the groundwork for further increases beyond recent peaks.
Notably, SHIB's burn rate has surged by 1,068%, resulting in over 51.7 million tokens being burned. This momentum, combined with a significant increase in the total value locked (TVL) in Shibarium, indicates potential growth in ecosystem activity.
The resilience of SHIB is evident, with over 64% of holders currently in profit, and the weekly chart reflects a potential price increase by 2025. Analysts suggest that if the current adjustment ends, it seems feasible for SHIB to reclaim the $0.0000300 threshold in the first quarter of 2025.
Conclusion
In summary, Shiba Inu is experiencing a notable recovery, driven by its unique ecosystem strategy, community engagement, and strategic partnerships. While Shiba Inu's development trajectory remains volatile, its potential for value growth by 2025 seems considerable, especially with effective community and market strategies.
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